WHAT WE'RE WORKING ON RIGHT NOW

SYRACUSE HOUSING STrategY

Syracuse, NY

what is the path forward for a soft market city facing serious housing gaps?

SUMMARY

In the spring of 2023, czb completed a housing study for the City of Syracuse that revealed two overarching housing gaps: a market gap that reflects the unwillingness of higher-income households to pay for good housing in the city, and an affordability gap that reflects the inability of lower-income households to pay for good housing in the city. The market gap indicates a need for revitalization work to build demand to strengthen the housing market, while the affordability gap indicates a need to strategically assist economically vulnerable households.

During late 2023 and early 2024, czb is working with the City of Syracuse, and a steering committee of over two dozen stakeholders and professionals appointed by Mayor Walsh, to craft a strategy aimed at addressing these difficult housing gaps. Perhaps the most important theme of designing a multifaceted strategy for Syracuse is the need to focus limited resources. A draft strategy is expected in the spring of 2024.

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Project Steering Committee wrestles with the reality of limited resources.

The combined cost to address all the revitalization and affordability needs in Syracuse is likely greater than one billion dollars. This is amount of funding that Syracuse would struggle to assemble. The question then is how could much smaller amounts be strategically deployed to make a positive difference in the city's housing market? czb is facilitating a series of discussions and interactive exercises with the steering committee to ascertain the principles upon which such difficult decisions would be made, with an eye toward public agreement and eventual support.